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Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. (EPD)

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids, crude oil, petrochemicals, and refined products. 

On June 21st, Magellan Midstream Partners, L.P. announced their upcoming contract with Intercontinental Exchange for delivering crude oil in Houston. The CEO of Enterprise Products Partners L.P. also commented this May that the demand for hydrocarbons could rise and hit an all-time-high record in 2022 as the economy rebounds. 

In the first quarter of 2021, Enterprise Products Partners L.P. had an EPS of $0.64, beating estimates by $0.17. The company’s revenue was $9.16 billion, up 22.36% year over year and beating estimates by $2.08 billion. It has a gross profit margin of 20.64%, and the stock has gained 25.09% in the past six months and year to date.

By the end of the first quarter of 2021, 26 hedge funds out of 866 tracked held stakes in Enterprise Products Partners L.P. Their total worth was about $299 million. Compared to 30 hedge fund holders in the previous quarter, holding stakes worth roughly $316 million.

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Gordon Fox is the editor of investinglate.com and writes about Investments, Savings, and how to make the most of your money